Fox Bet CEO heads for pastures new as brand wind-down completes
Kip Levin pays tribute to current and former colleagues as he leaves Flutter after almost 10 years
Flutter’s former US CEO and the CEO of its Fox Bet joint venture business, Kip Levin, has confirmed his departure from the FTSE 100 operator after almost a decade.
Levin joined Flutter as CEO of its US operations in April 2014, spending four years at the helm before transitioning to US sports betting market leader FanDuel, where he spent two years as president and chief operating officer between July 2018 and September 2020.
In the same month, Levin assumed the CEO role of Flutter’s joint venture business with Fox Corporation, Fox Bet, spending just over three years in the role.
Launched in 2019 by The Stars Group (TSG) business on a joint venture basis with Fox, Flutter absorbed the brand when it took over TSG in May 2020, with it functioning as part of the firm’s US division.
However, Fox Bet was slow to rollout across the US, with Flutter CEO Peter Jackson blaming product issues for the delays. Flutter migrated the Fox Bet brand onto the Paddy Power Betfair proprietary technology platform in 2021, hoping to arrest these issues.
In addition, Flutter favored its own FanDuel brand over the Fox Bet business, a stance which was compounded by the US sportsbook’s consistent revenue growth.
In July, Flutter and Fox jointly announced the phased closure of the Fox Bet brand over July and August, with Levin transitioning to the role of strategic adviser to FanDuel in his final month before leaving the operator.
In a post on LinkedIn, Levin paid tribute to a number of colleagues both past and present, including Flutter CEO Peter Jackson, former FanDuel CEO Matt King, who now heads up Fanatics Betting and Gaming, as well as current FanDuel CEO Amy Howe and company president Christian Genetski.
“It’s hard to sum it up in a succinct note, but I’ll leave you with a few reflections,” he wrote.
“While I know it’s cliché, the constant that’s kept me moving through all the challenges has been the people—to everyone I’ve learned from, worked with to overcome what sometimes felt like insurmountable obstacles, celebrated victories with, and made lifelong friendships with, thank you for everything.
Levin continued: “Being at the epicenter of the launch of online sports betting in 2018 and putting the FanDuel group together for NFL that year was a once-in-a-career moment. So, as some parting advice: Don’t take experiences like this for granted—I certainly do not.
“I’ve been blessed in my career by the people I’ve been fortunate enough to work with, learn from, partner with, and I always tell people if you don’t feel that way, then you aren’t in the right spot.
“It’s never felt like a job (or at least ‘almost’ never), and I can’t imagine a more exciting and rewarding 10-year journey as I start to think about what comes next,” he added.
Responding to Levin’s LinkedIn post, FanDuel CEO Howe lauded his contribution to the business: “You will be hugely missed Kip. Flutter and FanDuel wouldn’t be where they are today without you. Huge congratulations to you for a terrific chapter.”